Pre heat oven to 375. In a large mixing bowl, add sugar to beaten egg. Mix well. Add oil and water, beat again. Into a separate bowl, sift all dry ingredients (except nuts) and blend. Add dry to wet ingredients and mix. Fold in chopped nuts. Pour into an oiled 9x12 pan. Bake for 25-30 min or until firm in the middle. Cool on a rack before icing and or cutting.